Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: kajmeister Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25234  
Subject: Re: 401K conversion to Pension Fund Date: 7/6/2000 11:08 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I myself am confused. It has always been designated the Pension Fund. You earn a balance based on years of service and pay and it vests over time (I've been fully vested for a while). When you retire, that converts to some sort of monthly payment over a variety of options. But it never was clear to me that the money would go with me if I went to another company. As opposed to my 401K which I though was transferrable.

Now they will be allowing us to invest the pension funds in the 401K category, through some magic trick.

Unfortunately, the benefits department people are "trained customer service representatives" on 1-800 lines who know far less about pensions and taxes than I already do, and they use the standard phrase "Check with your tax professional." My tax professional had some ideas; I just thought you smarties might have some more ideas. The portability issue someone mentioned in the previous post is a major issue I hadn't considered.

Any other ideas you have would be welcome.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement